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As life goes on, your financial situation changes. That means what you need from your financial institution changes, too.
You may have signed up for your first bank account years ago, but, as time passes, it’s worth asking if that financial institution is still the best fit.
Who you choose to bank with affects your finances in more ways than you might think. So, let’s dive into the top 5 reasons why you should switch to a credit union!
Fed up with paying bank fees? By becoming a Cambrian member, you can bank for free!
Switching to Cambrian can save you up to $234 a year or more in service fees.
Putting money back into your pocket is undoubtedly one of the best reasons to switch to a credit union. The money you used to spend on service fees can now be put towards your financial goals instead!
Did you know that credit unions consistently offer more competitive rates than banks? You’re typically offered lower rates on mortgages and loans, and higher rates on GICs and savings accounts.
But why is that?
Banks are partly owned by shareholders – investors who hold shares in the bank.
As a credit union member, you’re part owner of that credit union. You have a say in how the organization operates.
Credit unions are owned by their members, which means they aren’t incentivized to make profits for shareholders the way that banks are.
While banks pass on profits to shareholders, credit unions share it with their members, which gets reinvested back into the community.
That’s why Cambrian offers members competitive interest rates (and no service fees!). Learn more about the differences between banks and credit unions.
When you choose a credit union, you can feel good knowing that the institution you bank with gives back to your community.
Credit unions are local, a part of the communities where their members live and work. They support those communities through volunteering efforts and donations.
Cambrian partners with local organizations to create positive change in our communities, supporting programs that make Winnipeg and Selkirk great places to live for everyone.
The organizations we support are close to home for our members, because they better the communities we’re all part of - like Sistema Winnipeg, which helps eliminate financial barriers and gives all children the opportunity to learn, play, and perform music.
Credit unions are local, but that doesn’t mean they offer fewer services than a national bank!
When you're a Cambrian member, you’ll have access to all the same banking features and services that you’ve come to expect, including:
Need to meet with a Cambrian Advisor outside of business hours? No problem. We offer evening video appointments!
With our extended hours, you can meet with an advisor on your time to talk about loans, mortgages, investments, and more.
You also have access to an ATM network that spans coast to coast. With the ding free network, you can use any credit union ATM in Canada free of charge.
That’s over 4,000 ATMs you can use for free!
Switching financial institutions might feel daunting, but when you’re ready to make the change to Cambrian, we’ll be here to help. Uncover your reason to switch to Cambrian Credit Union today!
We would be happy to discuss your unique situation with you.
Our goal is to make complex topics like this one, simple.
It takes less than 5 minutes to make an appointment or to apply online. It is up to you how you want to meet your advisor - you will have the option to meet your advisor:
